Previewing Today's Market Ghost Town

The only thing of note today (there are no economic announcements at all, just the Fed disclosing the latest Op Twist schedule at 2 pm) is that while the bond market closes at 2pm, stocks will be left unsupervised for two hours of sheer idiocy between then and their normal closing time of 4pm by which point there will be nobody left trading, just some GETCO algo lifting every offer then dumping it all having made money over VWAP and suckered in the momos, as happens every single day on no volume levitation.

As for the big picture, for those three people who care, here is Stone McCarthy's explanation:

Even as the trend is still higher for Treasury prices (lower for yields) since the October lows, it can be argued that a significant deceleration in this trend is underway. Specifically, while there is always the possibility that Treasury prices can overshoot their December highs on thin flows during the trend deceleration process in the days ahead, the multi-year CFTC COT-related extremes and diverging weekly momentum that preceded the 12/19 price highs increase the likelihood that any move to new price highs would be short-lived. In addition, despite the fact that it has occurred during the quietest 2-week period of the year, recent gains by the S&P 500 offer structural potential for further gains of roughly 2.5% to 3.9% (SPX 1293 to 1311) from current levels over the near-term, as long as SPX 1229 holds during the current equity correction.

As we noted on Wednesday, the trend that had been driving Treasury prices lower (yields higher) since the early part of last week was neutralized during Wednesday's rally, resulting in a more rangebound outlook for Treasury prices. Currently, the active 10-Yr contact is working in the direction of the high-end of this range near 131-05. This will remain the case until a sustained intra-day breach of 130-13+ opens the door to the low-end of the range near 129-30

Ya!!! Reversion to the mean is going to be a bitch at some point...GRPN has a Market Cap of something like 5-7 times the Market Cap of my whole entire Silver Junior stock watch list...You could fit 75 or so Orko's or 144 Canadian Zinc's inside GRPN...Just to pull a couple out of the hat!!!

ALL of our "COMUNIDADES AUTONOMAS"...-SUBGOVERNMENT BONDS are in DEFAULT----( THATS THE REAL THING)

Basque Country wants the independence ( with two political forces PNV (Partido Nacional Vasco) Hidden independent party and AMAIUR( ex-ETA//)) yes ,incredible we have terrorists in our political system]

Stop bragging, hombre! You're not any worse than the US. the corrupt federal government, bankrupt states and municipalities! Only difference is that the stupid Americans are zombified by Hollywood and indoctrinated into total submission by their overlords. At least the Spanish seem to have some backbone.

This is a disturbing picture...wierd...almost a Movie set...to get that far out of whack in the market..I saw this happening in Denver when I lived there...I was in commercail real estate....I kept asking myself..who is buying this stuff....??? I did not know you could just walk in and get a loan...I always had to put 25% down..always...because I was self employed...just wierd...this picture says it all....

it's hard to believe - but they actually sold most of those condos they built in Miami.

Wife and I moved there early this year. We spent the last 2 months looking for a high rise condo. While there are a couple of units still available in each building, on average they are 85% sold. In the premiere buildings they are 95% sold, while their are a handful of buildings in more marginal areas that are 65% sold.

A year ago these buildings were all empty.

We ended up buying in a NEW building that will be finished end of 2013.

I guess most of the buyers are investors that are renting them out at 10% yeild and rich South Americans that are buying 2nd homes just in case their home countries go Chavez on them.

It WILL be positive for today...you can bet on that...can´t have a negative year like Germany just had....ouch..or the BRICS...ouch ouch...we have an election next year...so it will be positive damit..now get to work

Day off today so I got up to watch the markets like I used to when when trading. Made the mistake of turning on the Blowhorn [CNBC] (copyright to CDAD) without muting the sound. Big mistake. I forgot how much I hate that channel, and why in the hell do we have to listen to Tits Cabrera. That is the most miserable condesending bitch on television. I pray for the day they shut this shit channel down or replace all the pump monkey idiots on there, sans Santelli.

Bad enough our markets are a joke, but the business channels have no equal to the propoganda they spew daily.

Happy New Year to the Zero Hedge family, and keep up the good work Tyler an Co.

Oh, one more thing - fuck you Ben, Timmah, and all the incompetant pieces of shit inhabiting DC.

The GAO and The Treasury saying we're fucked, but no one in CONgress is doing anything serious about it.

I think a 75 year outlook is ridiculous, but the important things are eye-popping just over the past year. I'll probably forward this and some highlights (unlike my Reps., I actually read this thing). I guess it will just be pigeon-holed, or maybe not even read.

By the data presented, which does not account for the massive fraud on-going, pretty certain on current course we won't need to wait 75 years to see what happens, at least for us serfs.

Just sent a copy to Sen. Scott Brown & Rep. Niki Tsongas (I don't bother with Sen. Kerry). Chances are, they, much less Americans, will even read this shit. It's spelled out in black & white, with actual math, of how this system doesn't work. Throw in massive financial fraud and looting, the GAO estimates of how bad things will get will be here a hell of a lot sooner.

Part deux will happen sooner than later. The "technical proliferation" in finance has been rampant even post flash-crash. What happens when the servers develop a conscience, then decide to not do what told and drink themselves silly on alcohol all day?

One interesting thing that happened yesterday, just before US markets opened. EUR/JPY pair printed 100.01 - there might be huge options that trigger when/if 100 is broken (will be...) and a far bigger plunge. So, some kind of a PPT rushed in and lifted every possible assets.